Joe,
Wide angle lenses are traditionally very difficult to design and build to produce sharp clean images at the edges. This is even harder when you have a 2x crop factor, and have to use extremely short focal lengths, like 7-14mm.
This lens performs very well. It is very sharp with excellent image quality. It compares favorably to lenses like the Canon 16-35 on full-frame sensors.
Based on this, in my opinion, it's a reasonably priced lens.
Granted it's significantly more than the kit lens, or the 45-200, but it's reasonably priced when compared to pro-level wide-angles from other manufacturers.
If you want a 14-28mm (equiv 35mm focal lengths) with autofocus on an mft mount, there's no better option. In fact, there is simply no other option. But they are not overpricing the lens, when compared to other systems.